AMD高管预警：DDR5内存高价将再持续两年，AI

Compounding the problem is the intentional wind-down of older DDR4 production lines. Over the past one to two years, manufacturers have shifted their fabrication lines away from DDR4 to focus on DDR5 . This was meant to transition the consumer market forward, but the resulting DDR5 capacity is now aggressively competed for by the insatiable demands of the AI server market, leaving an insufficient supply for both segments.

A Record-Shattering Scale of Price Increases

The financial impact on consumers and manufacturers has been swift and severe. Market data from April 2026 shows the relentless upward trajectory:

• The bulk contract price for a single 16GB DDR5 memory module hit $35, marking a 6% increase month-over-month and the fourth consecutive monthly price hike .
• This represents a 3.5x increase from just six months prior, when the same module cost approximately $10 .
• The broader market is on fire. Overall DRAM prices have risen 171% year-over-year as of March 2026, with DDR5 spot prices quadrupling since September 2025 .

These are not just increases on the latest technology. DDR4, DDR5, and NAND flash memory have all experienced cumulative price increases exceeding 200% since early 2025, showing the shortage is cascading across all memory types .

Some new manufacturing capacity is on the horizon. McAfee noted that China's CXMT (ChangXin Memory Technologies) is making real progress in building out its DDR5 production . His outlook, however, was cautious. While the new capacity will help, it is currently too small to significantly shift the global supply-demand balance in the short term, contributing to his prediction that this painful market cycle "will take much longer" than previous ones .

The Macroeconomic Ripple Effect: PCs, Smartphones, and Spec Downgrades

The memory crisis is now dictating product strategy across the tech world.

The PC market faces a steep decline. The global PC market is heading for its most significant contraction since the 2022 demand collapse, a downturn directly linked to memory cost inflation pushing system prices beyond consumer reach . In a startling strategic move, AMD itself has publicly explored the idea of "resurrecting" older AM4/Ryzen products that are compatible with cheaper DDR4 memory. McAfee confirmed that AMD is "definitely exploring all options available to increase supply and reintroduce products into the market" to give consumers a more affordable PC upgrade path around the DDR5 price wall . Manufacturers of pre-built systems are also being forced to downgrade other specifications, like storage or lower-tier CPUs, simply to keep sticker prices stable .

Smartphones and consumer electronics are collateral damage. The crisis has spilled beyond the PC. Smartphones use LPDDR5, a low-power variant of DDR5, which is sourced from the exact same constrained manufacturing pool . As AI servers have adopted LPDDR5X memory for new processors, smartphone-class memory now faces its own spillover shortages, putting upward pressure on phone prices and leading manufacturers to reduce the amount of RAM in some devices . This supply-squeeze dynamic has become so widespread that even old DDR3 memory inventory has seen renewed demand as a cheaper fallback for some electronics .

While previous chip shortages, like the one from 2020–2023, were primarily driven by pandemic-related supply chain disruptions that eventually normalized, this shortage is a structural demand shift. The 2024–present crisis, sometimes called "RAMmageddon," is driven by a systemic, high-margin reallocation of manufacturing capacity toward AI infrastructure and away from the consumer market . It will not resolve until a massive amount of new fabrication capacity comes online—a process that, according to AMD's executive, puts price normalization years away.